Useful Tips When Filling Out The FAFSA

Posted on February 27, 2009
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College is expensive. This is the same for high school students and for non-traditional students who must pay for full tuition and the other expenses associated with higher learning. Those expenses can keep many people from going to college but there is help and hope. Financial aid for students is out there if you know where to start. It all begins with filling out the necessary paperwork associated with the FAFSA.

The FAFSA is the Free Application for Federal Student Aid from the government. It is the single most important application you can fill out besides your application for admittance to the university. It lets the government know of your economic status and will determine how much money you qualify for in student aid. You cannot get any form of aid from Pell Grants or student loans without filling out one of these applications, so you can see why they are so important to your academic status.

When filling out the application, you will need some information about yourself. Obviously, you will need to supply very important personal information, such as your name, address, school of choice (up to three that will receive your report), social security number and your previous year’s tax information. The tax information is used to determine how much you make and how much money in Pell Grants you will be able to receive.

Pell Grants are free grant money from the United States government that you do not have to pay back. It is awarded based on your financial need. This is the best way to help pay for school since you do not have to worry about accumulating student loan debt. Granted, you will probably still need to take out student loans to help finish paying for your expenses but the Pell Grant can lessen the debt load.

Once the FAFSA is filled out you will receive a Student Aid Report in the mail within a few weeks. The SAR will detail how much money you are eligible to receive and will also let you know when the estimated disbursement dates for the money will be. If you are late filling out the necessary paperwork, then your money could be delayed until after school starts. That is not a good thing. If you know that you or your parents make too much money to qualify for a Pell Grant, then still fill out the paperwork to see if you qualify for student loans. If you need help filling out the forms, then visit your college’s financial aid office.

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